Ichor Coal

SHAREHOLDERS UNANIMOUSLY VOTE IN FAVOUR OF CASH OFFER FOR ASX-LISTED UNIVERSAL COAL

The shareholders of Ichor Coal N.V. (IchorCoal) who were represented at the extraordinary general meeting on 4 November 2015 voted unanimously in favour of the acquisition of ASX-listed Universal Coal plc.

In October IchorCoal made a fully underwritten offer of A$0.16 per share for the entire issued share capital of Universal Coal that it does not already own, valuing the company at approximately A$80m. IchorCoal is currently a 29.99% shareholder in Universal Coal.

Shareholders also approved a €48m private share placement against payment in cash to fund the acquisition cost and for other corporate purposes. Furthermore, shareholders approved the exclusion of pre-emptive rights in relation to the private placement.

All other resolutions put forward at the general meeting were adopted, including the appointment of Mr Tarek Malak as a member of the Supervisory Board.